An expected Fed rate cut props up Asian mkts: CFC SeymourPublished on Thu, Nov 29, 2007 at 08:24 | Source : CNBC-TV18 Updated at Fri, Nov 30, 2007 at 09:50 Asian markets were trading firm. Hong Kong's Hang Seng surged 3.32% or 908.71 points at 28,279.95. Japan's Nikkei rose 2.38% or 361.02 points at 15,514.80. Taiwan's Taiwan Weighted gained 2% or 165.88 points at 8,442.14. Singapore's Straits Times advanced 2.51% or 84.62 points at 3,454.34. South Korea's Seoul Composite was up 2.59% or 47.45 points at 1,882.14.
He further adds that although the rate cut might not help the US economy in the long-term, it just shows that Fed will continue to anything that is necessary to prop up the US economic machine. Excerpts from CNBC-TV18's exclusive interview with Dariusz Kowalczyk Q: Is it the expectation of a rate cut that is riding all the indices? Q: Do you expect rate cut to act as an effective since we have had two rate cuts since mid-September but they don't seem to be having much of an long-term impact although short-term maybe? It is difficult to actually assess what is going to be next year but this a kind of insurance policy that the market has, that the Fed will help us and that's is why the risk of a slowdown seems to be much more mitigated right now that we know that policy makers are on our side.
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Tags: Asian markets , Nikkei , Straits Times , Dariusz Kowalczyk, CFC Seymour, Fed, Fed Beige Book , Central Bank |
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